St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-10-07
On the Chicago Board of Trade There
Was Small Change in Prices
Yesterday.
The Tone, However, Was Some
what Bearish Toward the
Wind Up.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.
Special TO the Globe.

because the fight looks hopeless, Win the
short selling element indisposed to plunge
because the price is now down to the cost OF
production, and with holders of wheat in
thousands of scattered elevators distributing
their selling orders among half dozen mar
kets because stocks in Chicago are getting
dangerously low, the Chicago speculative
market has been brought to state of ex-
IRENE and almost unprecedented dizziness.
This excessive langour is intensified by the
high commission rules, the adoption OF
which is now seen TO be a mistake. very
considerable percentage or the purely specu-
lative business that was Withdrawn when
commissions were raised has not returned,
and it is not likely TO return until commits
sionS are put back 10 a parity with those
charged in New York, Duluth and else
where The trade does not seem 10 be going
10 rival markets to a large extent, because all
alike complain of dizziness. Spectators are
simply staying out
THE DANGER Is
that when they find that they can live with
out playing The markets they will keep out.
From high moral point of view that would
be Il good thing for the country perhaps, but
the many excellent gentlemen on change
who have heavy office expenses TO meet en-
terrain views to the contrary. Commission
merchants, brokers' SPECTATORS and "leSlu-
mate grain men would like to see quick
markets. Rapidly hucmaung values make
lively business and keep the nerves ungiing
pleasurably. Without outside trade and
good deal of il the markets must continue 10
languish. A realizing sense of the necessity
of the situation is taking possession OF the
membership of the board OF trade, ana Il de-
termined effort will be made shortly TO reduce
commissions TO point satisfactory to the gen.
70 ivln
in that direction The movement will prob
ably take the form of petition to amend the
grain rate from 81 and 81 per thousand bu to
lsc and Lice for members and nonmembers
respectively, and establish a clearing rate OF
$3.50 per 1000 bu between members. The
policy OF further eXhausting the sick man,
speculation, by taking from his veins what
little thin blood is left, is liable to be changed
Lake engagements were reported to-day Tor
$4,000 bu of wheat, 10000 bu of corn.
and Ill 600 bu of oats. Provisions eXhib-
tied symptoms of vitality to-day.
RECEIPTS OF LIVE HOGS
are OH the increase, and as the quantity of
product turned out at the packing houses in
creases trade, naturally sympathizes and
broader markets inSensibly result. To-day
there was some little excitement in October
ribs. which jumped from 81 at the opening
months the tendency of prices is downward,
but believers in the future of produce are nu-
merous. January pork ranged at S12.32i2@
1920 and closed at S12.2 7l2. The whole
line of lard futures lost 2l2c. January ribs
suffered similar shrinkage. Cables were firm
and slightly higher for wheat and strong,
with a decidedly better tone for corn.
The foreign news was the factor
that gave the local market its early
firmness. The regular market cables were
supplemented by direct buying orders, and
New York was also in the cash market with
inquiries for wheat to ship. Local exporting
houses nearly all had orders at the market
and quite a quantity of wheat was worked,
probably in the neighborhood of 100000
bushels. Around the opening there was
pretty free buying by local operators and
brokers, who usually operate for some OF the
plungers. Their wants were satisfied with
out anybody selling much. and after while
values began to settle. The downward move
ment was slow at first but the motion was ac-
CELEBRATED by late private cables indicating an
easier feeling in Liverpool. November de-
clined from 72lsc TO 71I2c; December from
1850 to 72Isc and May from 79lsc to 1850.
The last edge of the brick was rapid and at
1870 the market was sick and tired. The
last half hour of the long session was not
characterized by special excitement. The
market
QUOTED DOWN
after the furry caused by the break, and
trade tapered off to the end. The blackboard
was not favorable to the bulls Primary
point receipts for two days footed up over
100000 bu. and Atlantic port shipments
were less than 200, 900 bu. From the North
west comes the cry OF a car famine. Cars to
move the grain from the interior cannot be
had. Corn was active for awhile Hutchin-
son sold about 100000 bu, mostly May, and
after he had disposed of what he wanted
to trade got slack. The opening
range, 4258c for November and 451sc
for May, was the top, and the l o'clock
quotations were at the bottom. The decline
was slow to 42l2c for November, 4214c for
December and 45l2c for May. Oats showed
signs of life but price changes were trifling
At the afternoon session trading was con-
fined almost entirely to the wheat pit, prices
were practically unchanged. Wheat-697sc
. October, 1850 November, 727sc December
79S8c May. Corn-42l2c October, 42l2c No
vember. 424c December, 45l2c May. Oats
26c October, 26$5c November, 277sc Nav
Pork-S12 27l2 January, S12 year. Lard
S6.45 October, S6.3212 November, So 32Ia
December Short ribs-S7. 45 October. Sc. o2ls
January.
THE ROUTINE REPORT.
CHICAGO, Oct. G.-The markets opened this
morning very much as if there had been no
interruption in the weeks business. Prices
were very little changed and were not dis
posed to move any great distance one Way or
the other. Wheat for December delivery
opened at 1859, fiuctuating awhile between
T3I2@I735sc. Corn for May sold at 453a0
457sc. After a while wheat became easier
for the reason that no one supported it. De-
cember fell back to 1850. This affected corn
corn little, May. easing back to 1850
After trade had fairly settled down, the tone
was cleaay bearish. There was SOME real
izing but it was by small inter
ests in small way. Toward noon,
cables came in considerably improved over
the earlier ones, but it was then too late in
the day for any good to result to the bull
side. December wheat had reacted to 73c
and corn to 45l2c. Neither grain possessed
they friends enough to hold the market up
by main strength. 1t was scalper's market
and very poor one at that There was
listless crowd in provisions, though when
the weakness in other pits became quite pro-
nounced they did a little business. AS
general thing the disposition was to sell hog
product rather than to buy it. The close was
Slow at bottom prices for the morning
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. October opened at 7O14c. clos
ing at $3.50; November, 72c, closing at
1d Deeember; zSsse closing at 727sc; May
Der, 42s4c, closing at 42l2c; November
427sc. closing at 42l2c; December. 42ssc
closing at 42he; May, 45s4c, closing at 45lsc.
Oats-No. 2. October, 26c, closing at 26c;
November, 26Ssc, closing at 26ssc; May,
297sc, closing at 2975c. Mess Pork per Dbl.
Year. So; January. $3.50, closing at
S12.27l2 Lard, per 100 lbs-October, Sc. l2Gs.
closing at S6.45; November S6.35, clos
ing at So. 1912; January, S642I2, closing at
S6.40; May, $50, closing at
N6.70. Short ribs, per 100 lbs
October, 500, closing at S745;
cash nuOfatiOuS Iyprp fnllouc. Whoo.-